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AICPA Updates Summary of State Reform Issues

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The Institute’s special committee on state regulation distributed to
state CPA society chief executives, presidents and legislative staff the
second edition of A Reasoned Approach to Reform
, its overview of state issues related to the Sarbanes-Oxley Act of
2002. Replacing an earlier edition, issued in January, it will be useful
for educating state society members, state legislators, regulators and
federal executive branch officials about the implications of imposing
Sarbanes-Oxley-like provisions at the state level. The new version
includes changes in the sections on audit partner rotation, state board
of accountancy composition and peer review. It also adds an issue brief
on professional ethics. The special committee is available to help state
societies minimize at the state level the “cascade” effect of federal
legislative, regulatory and executive branch actions resulting from
passage of the act. More information on the committee and its work is
available at
www.aicpa.org/statelegis/index.asp
.

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